en
az
ru
trThe option to transfer funds from the VAT deposit account to the State Social Protection Fund (SSPF) is being introduced
- Date
- Views 6
The option to transfer funds from the VAT deposit account to the State Social Protection Fund (SSPF) is being introduced
Private sector entities in Azerbaijan that do not operate in the oil and gas sector are expected to be granted the opportunity to transfer funds from their VAT deposit accounts to the State Social Protection Fund (SSPF) under the Ministry of Labour and Social Protection of the Population.
The provision is included in the draft law on amendments to the Tax Code.
The draft was discussed today at a meeting of the Economic Policy, Industry and Entrepreneurship Committee of the National Assembly.
According to the draft law, the measure will take effect on 1 January 2027 for a period of four years, while its terms and implementation procedures will be determined by the body (institution) designated by the relevant executive authority.
The draft law aims to expand taxpayers' ability to use funds held in their VAT deposit accounts, create additional financial resources for fulfilling social obligations, and ultimately support taxpayers operating in Azerbaijan's non-oil and gas private sector.
Private sector entities in Azerbaijan that do not operate in the oil and gas sector are expected to be granted the opportunity to transfer funds from their VAT deposit accounts to the State Social Protection Fund (SSPF) under the Ministry of Labour and Social Protection of the Population.
The provision is included in the draft law on amendments to the Tax Code.
The draft was discussed today at a meeting of the Economic Policy, Industry and Entrepreneurship Committee of the National Assembly.
According to the draft law, the measure will take effect on 1 January 2027 for a period of four years, while its terms and implementation procedures will be determined by the body (institution) designated by the relevant executive authority.
The draft law aims to expand taxpayers' ability to use funds held in their VAT deposit accounts, create additional financial resources for fulfilling social obligations, and ultimately support taxpayers operating in Azerbaijan's non-oil and gas private sector.